METAC Sees Sell-out of 40% of Units at Launch

The Project

METAC, with three decades of general contracting experience in UAE real estate, knew general contracting but lacked the experience to develop real estate from start to finish. The company purchased a plot of land in an upcoming waterfront community, Dubai Islands, aiming to develop a project there.It knew it needed a partner to develop, market, and sell the project successfully.

After an extensive search, the company selected Driven | Forbes Global Properties and its sister company, Refine Development Management to lead development, including architecture, and sales & marketing for its newly named project, Haven Living.

Rizwan Sadiq, Co-founder of METAC explains, “As a general contractor transitioning into real estate development, there’s significant risk in selecting a partner.Driven & Refine’s reputation and demonstrable experience gave us confidence in their ability to shepherd us through our first development project.”

The Solution

METAC kicked off the project with Driven | Forbes and Refine in the middle of 2023. In the initial phases of the Haven Living project, Driven advised METAC, alongside Refine Development Management, on the design and architecture of the building. They landed on a striking, sophisticated, and modern design with sleek aesthetics and contemporary appeal. The architectural vision of the building revolved around the concept of natural light and creating a seamless indoor-outdoor connection.

The development, currently under construction, will be a collection of 1, 2, 3, and 4-bedroom luxury apartments with unit sizes from 1,052 to 5,673 square feet. The mid-rise structure will have a ground level, two podium levels, and ten stories.

Notably, Refine’s keen eye for architectural optimization led to a significant improvement in space efficiency. Sadiq explains, “Refine identified opportunities to increase the building’s usable space from 77% to over 90%. This gave us a more functional design, but also resulted in an impressive 10,000 square feet of additional sellable space – or over AED 16 million in found revenue.”

In parallel to the architecture workstream, the Driven | Forbes and Refine team also conducted a thorough economic analysis to set Haven Living’s go-to-market price point.The team projected supply and demand to support METAC’s required sales volumes at a starting price of AED 1.7 million with a 50/50 18-month payment plan.

The Driven | Forbes and Refine marketing team got to work building a core tenet of any development project- the brand and collateral.After first understanding the ideal buyer profile, the team developed multiple brand identity options for Haven Living, one of which was ultimately chosen.Following this, the team created marketing brochures, fact sheets, a dedicated website, and a 3D model in Haven Living’s dedicated sales center.The marketing team also launched social media channels and ran supporting marketing campaigns. All outputs focused on juxtaposing the natural beauty of Dubai Islands’ 20-kilomater coastline with the prestigious mixed-use development, upcoming luxury residences and hotels, and nearby access to mainland highways and transit.

“Driven’s team built buzz and anticipation for Haven Living. Their targeted campaigns reached our ideal buyers and brought in quality leads for the commercial team,” says Sadiq.

Following the marketing launch of the project, the on-site sales team handled the sales experience from start to finish.Driven | Forbes propriety customer relationship management (CRM) software provided transparency of the sales pipeline and sales progression.It enabled lead management, appointment setting, sales center tours, bookings, conveyancing, and ultimately sales conversion.Refine also meticulously managed the project’s Escrow Account, ensuring financial transparency and trust with Haven Living’s buyers.

The Results

The Haven Living project launched to the public in November 2023 with a spacious and well-designed building plan, a strong brand, an attractive location, a competitive pricing and payment plan, and an on-ground sales force.At launch, the project immediately achieved AED 44 million in sales.

Driven | Forbes and Refine are expertly guiding us through our first development project, and I’m confident they will continue to do so until completion.We’re looking forward to a 100% sell-out and are pacing well toward this goal,” says Sadiq.

Satisfied with Haven Living’s successful launch, METAC chose to partner with Driven | Forbes again for their second project Haven Bay in Dubai Islands.